I wanted to share some perspective of new home sales and new home construction pipeline for the balance of this year, and the next couple years in the Beach Cities. Check out the short video & feel free to reach out with any questions, or any real estate needs!

In December the Federal Reserve announced that they were raising their short term rates for the first time in 2016 by a quarter percentage point between 0.50% and 0.75%. This was only the second time in more than a decade. Although they projected rates would raise more quickly in 2017 that did not happen after their first policy meeting February 1st. The Feds reaffirmed in their meeting that they would hold firm on interest rates for now although projecting increases would come later in the year.

Please take time to review the latest housing market trends for our South Bay Cities below. Sales in Palos Verdes, Manhattan Beach and Hermosa Beach continue to rise while Redondo Beach shows a dip in sales.

CoreLogic reported in late December that home buying saw the fastest November in more than four years even though the month’s sales totaled 7.5% below 1988 month average. The surge in sales increased what buyers paid. Our relatively robust local job market created more job opportunities along with pay hikes nationwide. Fewer absentee buyers were reported. Mortgage financing was not used in 21% of the deals.

We live where people want to vacation. Some Los Angeles cities list as their attributes as several “close to” attractions, shopping, dining and even other areas. But in Manhattan Beach, other than its proximity to LAX, there is no need for those “close to” references because so much is happening right here. Without the pretentiousness of nearby West LA. Manhattan Beach retains a community-oriented atmosphere where everyone seems to get along in a friendly manner. Hot Volleyball, cool water, a town for athletic people, young or not so young- everyone is out walking, riding or running by this is the place to BE.

As proof, here’s the Top 10 Reasons You Should Live In Manhattan Beach:

1.) The Beach. Manhattan Beach does not just have a beach, it has a clean beach. There are no tacky t-shirt shops, no graffiti, no seedy side that taints the views of the Pacific Ocean under a bright blue sky. What you have here is a nice, wide beach that’s upscale, relaxed and so perfectly pristine you’ll wonder why you didn’t move here sooner.

2.) The Strand. This “moving” sidewalk of sorts is the centerpiece of activity in Manhattan Beach and, in fact, throughout the entire South Bay. Because of The Strand, having a bike here is a must; you can ride all the way to Palos Verdes on one end – with Hermosa Beach and Redondo Beach along the way – and if you desire, to Santa Monica on the other. And it’s all right along the sand. The Strand is also idea for running and walking. No motorized vehicles are allowed, which means it’s purely people power that moves on The Strand.

3.) The Sunsets. One of the nightly rituals is going down to the beach to watch the spectacular sunsets. Sometimes, the sun will turn orange and the sky around it will explode with colors. Downtown is particularly fetching, with the palm trees on either side of the pier, making for the kinds of photos that, when you share them with your friends, will get lots of envious remarks. You can even soak in the sunset from a restaurant with a glass of wine in your hand.

4.) Friends Will Always Be Coming To You For Get-Togethers. Because Manhattan Beach is so spectacular and people from all over Southern California love it, when it’s time for get-togethers with friends, they will be coming to see you rather than you always having to always to go meet them someplace. In fact, you will soon discover they want to visit you a lot because they like coming to Manhattan Beach!

5.) The Events. In addition to the idyllic everyday beach life in Manhattan Beach, there are also events that stir the locals’ soul. Each Sunday in the summer, there are free concerts in Pollywog Park that are more like picnics with great music. There is Old Hometown Fair the first weekend of each October with its Saturday morning 10K, festival and lively beer garden. There’s Holiday Open House, where the downtown shops open up in the evening to strollers, some offering entertainment and refreshments. But the most spectacular event of them all is the Manhattan Beach Holiday Fireworks, a sensational show on the second Sunday of December that brings in about 10,000 people, all in a festive holiday mood. This being Manhattan Beach, many bring beach chairs and watch while sitting on Manhattan Beach Blvd.

6.) Downtown Shops & Restaurants. For those living in the hill section, it’s a short 5-minute walk to downtown where you’re rewarded with a pleasant, peaceful stroll through high-end shops, great restaurants, classy restaurant/bars and even a couple of classic beach dive bars. No worries about parking or having that extra glass of wine because you can walk back home. In fact, you may find you will leave your car parked on weekends because, frankly, why go anywhere else!?

7.) Beach Volleyball. Manhattan Beach is the birthplace of beach volleyball, and many of the Olympians either live here or practice here. Go down to Marine Street and see where the sport was created. Or just walk to the pier where, on any given summer weekend, there’s some sort of tournament taking place. The “king of the beach” volleyball tournaments is the Manhattan Open, which the top pro players (and Olympians) refer to as the Wimbledon of beach volleyball.

8.) The Escape. Living in Manhattan Beach is like being on a year-round vacation. With all the activities and events, you can put yourself right in the middle of it all, but there’s enough elbow room to have privacy, too. You will also notice quickly that Manhattan Beach is really a small community and it’s easy to forget that the really large city of Los Angeles is all around you.

9.) It’s Close To LAX. Okay, here’s the one “close to” you need to know about when it comes to Manhattan Beach. You can be at the airport, door-to-curb, in 15 minutes. Sometimes even 10 minutes. It’s a near-direct drive and there is rarely any traffic. It’s the most stress-free trip to (and from) the airport of just about any city in North America.

10.) Real Estate. Manhattan Beach residents have a fairly high income but shun the snobbery for a fun attitude. There is some sticker shock to people who first want to move here. We have a mixture of beach homes and mansions. Land is expensive in all the beach cities in varying degrees. Manhatan Beach homes have held their value very well along the bumpy Real Estate market down and up turns.

Manhattan Beach may finally have its own skate park by the end of the year.

Skateboarding advocates have long sought a safe and legal place for the sport in the city as an alternative to business and school parking lots, or trekking to facilities in El Segundo, Venice, Gardena and Hermosa Beach.

The City Council voted unanimously to pursue a $300,000 county grant to build a skate park in the northeast corner of Marine Avenue Park. The three locations up for consideration where: Marine Avenue Park, Manhattan Heights Park and a triangular spot near the beach in El Porto, with the latter proving least popular. The spot outside the baseball diamond’s outfield and adjacent to Manhattan Beach Studios emerged as the top choice after a lengthy public comment process that included workshops and an online survey.

The idea gained interest from Manhattan Beach leaders 15 years ago, but fell off the city’s priority list, resurfacing with a renewed call in the past few years at public meetings packed with skateboarders. One year ago, the City Council moved forward with hiring a consultant for $20,000 to assess the community’s need for a skate park and come up with options and funding ideas, but agreed to keep Polliwog Park off the table as a potential spot since the idea was met with strong opposition from neighbors.

The council has three options for the same corner of Marine Avenue Park, ranging from a 2,000-square-foot “skateable path” to a 5,000-square-foot, mixed elevation area that would replace an under-utilized exercise area. The skate spot would be open and unsupervised during normal park hours

Happy New Year to one and all. Wishing you and your families the best of everything for 2015.

In addition to sales and economic updates both local and national, this issue brings you State of the City reports from the mayors from the cities of Hermosa, Manhattan and Redondo Beach. All three cities have major happenings you will want to become more familiar with as the year progresses.

Please enjoy. Should your plans include real estate purchase and sales, please call or email with questions – and as always, thanks for your referrals!

State of the City:
Hermosa Beach / Manhattan Beach / Redondo Beach

Hermosa Beach: State of the City
Source: Beach Reporter December 30, 2014

We often refer to Hermosa Beach as the “Best Little Beach City.” It has also become the busiest little beach city, as numerous projects that are going to greatly benefit residents, businesses and visitors alike are currently being worked on and will continue to be top priorities in the upcoming year. Read More

Manhattan Beach: State of the City
Source: Beach Reporter December 30, 2014

I want to take this opportunity to express my heartfelt thanks to all Manhattan Beach residents for the honor and privilege of serving our wonderful community as your mayor. As we start the new year, I want to reflect on the accomplishments of our city in 2014 and address the goals and challenges that lie ahead. Read More

Redondo Beach: State of the City
Source: Beach Reporter December 30, 2014

The Beach Reporter has challenged the beach cities mayors to convey our thoughts and ideas for 2015. Attempting to predict the future is always a daunting task, but I can say that Redondo Beach is on the verge of greatness! We enjoy a city that has an exceptional school system, police and fire departments that keep us safe, and a public works department that strives to keep us clean and functioning. Daily, I speak with countless citizens who are extremely happy with life in Redondo Beach. Most of the people in all of our wonderful beach cities are happy and friendly. Of course, that’s why we choose to live here.Read More

Every year, hundreds of wine enthusiasts descend on Shade Hotel in Manhattan Beach, when the chic boutique hosts California’s top winemakers for its “Ultimate Wine Festival.” It is the ninth year for Shade Hotel‘s Ultimate Wine Festival, to be held Sunday afternoon, April 6. This event features premier wineries and winemakers in an intimate and enjoyable setting for our wine tasting guests and winery participants alike. .For this year, the organizers have lined up more than 50 wineries for the festivities, including Opus One, Ceja Vineyards, Flowers, PlumpJack, Silver Oak, Grgich Hills, Trefethen and Trinchero. If any of those number among your all-time favorite wineries you need to be there. Enjoy a night of wine tasting with winemakers, owners, and winery associates. Nibble on Shade’s delicious hors d’ oeuvres Regular admission is $125. A Reserve Magnum Tasting between 2 and 3 p.m. will be $200 per person. A percentage of the proceeds will benefit Manhattan Beach Middle School.

Great location in East Manhattan Beach. Quiet short street, walking distance to Pennekamp Elementary, MB Montessori and Mira Costa High SchoolA 3 bedroom home with great living space. Lush front yard with picket fence. A south facing back patio with built-in BBQ, dining area and sitting area. The lot is 50 x 105 and sits above the homes to the south, providing nice south facing light and privacy.

Manhattan Beach real estate market update. A look back at 10+ years of sale and inventory in Manhattan Beach, Hermosa Beach and North Redondo Beach. Market insight is the essential ingredient in all of the services we offer. We answer the question “How is the market?” By monitoring Manhattan Beach real estate market trends, and statistics we make projections to help you make critical decisions. This report demonstrates the comparison of rate of sales compared to current real estate inventory, which is known as the Market Action Index. The current market would still be defined as a sellers market. We present a deep dive into the current real estate market analysis for Manhattan beach, Hermosa Beach, Redondo Beach neighborhoods. This video update is for the 90266 zip code. Learn about the real estate market trends for median list price, asking price per square foot, average days on market. Get the market knowledge you need to make the best real estate decision. Find Manhattan Beach real estate market statistics including home values, listing prices, number of homes for sale and many other measurements. Please make sure to subscribe to our real estate market reports for Manhattan Beach homes for sale in 90266.